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Grayscale Research predicts that if the United States economy can avoid a recession, Bitcoin will retest its all-time highs and other crypto assets will also gain.
Asset management firm Grayscale is predicting positive growth for Bitcoin (BTC), Ethereum (ETH) and other crypto assets due to macroeconomic factors. The company noted that assets fell last month compared to Q1 figures, but emphasized that optimistic factors could come into play that could trigger market growth. Grayscale remains optimistic about Bitcoin and other assets as it launches new investment products.
Grayscale Supports Bitcoin and Ethereum Growth
Grayscale Research made a positive projection for Bitcoin in its latest market report, despite the factors it cited for crypto asset declines. According to the firm, if the United States economy can avoid a recession, Bitcoin will retest its all-time highs. Analysts emphasized that users continue to embrace Bitcoin as a safe haven against inflation risk, and drew attention to macro factors.
“At the same time, Grayscale Research sees little tolerance for a deep recession and expects policymakers to print money and spend at the first sign. The undisciplined approach to monetary and fiscal policy is one reason some investors prefer to invest in Bitcoin, so a period of economic weakness could strengthen the long-term Bitcoin investment thesis.”
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Crypto assets slowed in early August after the weaker-than-expected US employment report. The firm said the pullback may not be as tight as in previous cycles due to a shift in attitudes among several US politicians ahead of the election.
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